TIP

Think about your negotiation in terms of the four Ps: Preparation. Good preparation is critical to negotiating successfully.

Purpose. Be very clear about your objectives. What do you want to accomplish? What do you think you can realistically achieve? And what is the minimum that you are prepared to accept?

People. Define the different roles of the negotiators on your side. If possible, establish what the roles of the people on the other side are, too.

Process. Time spent at the beginning of a negotiation defining procedures can save a lot of time later on. It is also useful to review procedures at different stages throughout the negotiation.